Telecom Italia has reportedly received 15 bids for its media assets, among them five for the entire TI Media unit.
Bidders include Italian and international industrial groups and investment funds, Reuters reported citing unidentified union sources…
Telecom Italia has reportedly received 15 bids for its media assets, among them five for the entire TI Media unit.
Bidders include Italian and international industrial groups and investment funds, Reuters reported citing unidentified union sources briefed by Telecom Italia management staff.
About a third of the offers are for the entire unit, another third are for the popular La7 television channel only, and the remainder are for the infrastructure only, according to the union sources.
The telecoms group said on 12 May it would sell TI Media assets as parts of comprehensive plans to cut debt.
Management has said it expects to receive binding offers in the fourth quarter and finalise the deal by year-end.
Telecom Italia reported revenues of €7.39bn for the first quarter of 2012 – up from €7.07bn in the same period the first year. Its total gross financial debt for Q1 2012 stood at €40bn – down from €41.95bn at the end of Q4 2011.
Telecom Italia was not available for comment.
